All Forum Posts by: Mary Joe

Hi All

What do I do if my tenant's girl friend is also living in the apartment? The lease is between me and the tenant only. How do I enforce the lease? or do I just let it go ?

I haven't confronted my tenant yet, but I suspect that's what going on.

Any advice would be appreciated.

thanks

MJ

Do properties in Suffolk cash flow well? Hard to find good tenants? I am tempted to invest in LI

Is is really worthwhile for Canadians to invest in the US?

FIRPTA Withholding - Withholding of Tax on Dispositions of United States Real Property Interests - it sounds like you lose 10% right off the top when you sell.

http://www.irs.gov/Individuals/International-Taxpayers/FIRPTA-Withholding

Glad it all worked out for you in the end, and very sorry to hear what you had to go through.

This is one thing that worries me most about being a landlord.

I don't know if it is enforceable but I always add a clause in my lease saying that in the event of an infestation problem, and if the problem still persists after professional treatment, then either party can terminate the lease.

I would rather let my tenant break the lease early than to have to deal with a professional tenant who's going to use bed bugs as an excuse to take me to court.

A lot of people use "vinyl planks" now for kitchen, they have the wood look and feel, and perfect for kitchen because you don't have to worry about leak or any water damage. Some vinyl planks also have the "click lock" mechanism and they install just like laminate or engineered wood.

Even many high end condos in Manhattan are using vinyl planks now, don't let the term vinyl fool you, some brands are 3 times more expensive than hardwood floor, eg: the AMTICO brand cost about $10 per sq foot

There are more affordable ones and look and feel just like natural wood floors, check out Allure vinyl planks on home depot.

Something to consider....

BTW, I love hardwood floor for the kitchen , so good choice :)

this is a good illustration, of course, every kitchen is different and it is not always possible to achieve this goal

a general rule of thumb for the ideal kitchen flow is a TRIANGLE anchored by the Fridge, Stove, Sink. Google "kitchen triangle" in images and you will get a lot of ideas.

What about the floor? what kind of floor are you going to use?

You only pay con Edison for electricity and heat (including hot water) , there is no separate utility bill for hot water , say if the apt is approximately 1000 square ft , for 3 tenants , you are probably looking at approximately $100 a month in the winter . It's the summer months that can get expensive if you have the AC running all the time.

Does an OA need to be filed with any government agency or notarized to prove that it was indeed created at a particular date?

It sounds like an OA can be modified anytime by the LLC members and doesn't need to be made official or filed with the government.

You can go to a local bank and tell them you are thinking of buying a unit in the building, ask the bank if they will give you a mortgage for the building. They will tell you. They won't approve the mortgage if the building is not on their approved list. This will give you an idea if there are some problems with the building that you should be aware of.